Umm al Quwain Free Zone Company Formation
Set in the north of the country; the Umm al Quwain free zone (UAQ FTZ) is well-known for its rich heritage, attractive desert landscapes, coastal mangroves, colorful fauna, windy beaches that makes the free zone a unique location to form your company in the United Arab Emirates. The Umm Al Quwain Free Zone is ideal for any business activity that is driven by value. The free zone allows entrepreneurs to leverage a steady economy, open investment sense, low costs of living and labor, and a great destination for import and export.
The free zone is based at two strategic geographical locations, the Ahmed Bin Rashid Port and Umm Al Thoub. The revenue of the free zone is generated mainly from hotels, parks and tourism, trading activities, fisheries, manufacturing, etc.
Manufacturing, tourism and trade are given the utmost significance by the Emirate. The government has launched numerous programs to support and make the emirate appealing to foreign investment, support SME’s and the fisheries sector.
With its modern management and flexible it has already gained impetus among foreign investors. The Umm Al Quwain free zone has some interesting and exclusive benefits.
The benefits of setting up a company in Umm Al Quwain.
- Quick and easy setup
- Strategic location with 2 international airports and a seaport
- Affordable and variety of licenses options
- Great for small business setups
- No corporate or personal tax
- Complete ownership
- Exemption from import and export tax
- No currency restriction
- Easy registration procedure
- Dual licensing
- Legal framework that supports new and existing investors
- Minimum documentation required
- Offices equipped with hi-tech and warehouse facility
- No restrictions on hiring foreign employees
Umm Al Quwain’s government vision
The government’s vision comprises five main pillars
- a sustainable and diversified economy
- social solidarity
- attractive tourism
- an excellent infrastructure
- innovative government
There are various commercial initiatives launched by the government to support local businesses and industries. These policies boost confidence within the private sector to construct an economy based on knowledge, research, and development. Factors like these make it a strategic business base and growth partner in the MENA region for any investor, all within easy reach.
Company Formation in Umm Al Quwain Free Zone
Business owners can easily a company in the free zone mainly because it does not require appointing a resident director or applying for a residence visa. Foreign companies can also establish branches or subsidiaries too in the Umm Al Quwain free zone.
Umm Al Quwain business setup process
- Picking an appropriate name for your company
- Payment of registration fees
- Submitting documents of directors, managers, secretaries, shareholders and attorney
- Organizing the documents for company registration
- Submitting the company registration application
Documentation required for registering your company
- Passport copies of manager
- Passport copies of shareholders and directors
- Proof of address of shareholders and managers
- Certificate of incorporation
- Board resolution and power of attorney
- The company’s memorandum and article of association
Residency and assistance
The Umm Al Quwain Free Zone allows its investors and employees to obtain their residence and work visas through simple and easy procedures at an affordable cost. Entrepreneurs can sponsor their dependents – spouse, children, parents and domestic help with related documentations, medical clearance, emirates ID and visa stamping.
All visas have a two-year validity period. The visa can be renewed after expiry. UAQ FTZ visa process are quick and convenient for investors and employees alike.
If you are looking for a cost-efficient and quick way to open your business in UAE, then Umm Al Quwain free zone is absolutely worth taking a closer look at.
Connect with Shuraa Business Setup
If you are planning to setup your free zone in Umm Al Quwain, our business advisors and specialists might be great help. We can cruise you through the business setup procedures in no time.
At Shuraa Business Setup we provide answers to all your queries. Start your Dubai entrepreneurial journey with us. Contact us today and get a free consultation.
In conclusion, Umm Al Quwain is probably appropriate for almost any business activity, Besides that you can also go for other freezone like IFZA, RAKEZ, SHAMS, etc.